Nanexa: Valuation update after the rights issue - ABG

SEK 75m from rights issue leads to project re-prioritisation
Primary focus on GLP-1 RA space (NEX-22 & Novo Nordisk collab.)
New valuation range: SEK 1-6/share (SEK 2-5 prev.)


SEK 75m from rights issue

Last week, Nanexa announced the outcome of the rights issue. Approximately 34.7% of the offered shares were subscribed to, either with or without subscription rights, while guarantee commitments accounting for 27.1% of the shares were utilised, resulting in gross proceeds of SEK 75m (~62% of the offered volume of SEK 121m). This outcome did not surprise us, given that the share had been trading at around SEK 1 since the rights issue was announced. The dilution impact of the share issue equals approximately 55.3% of the total number of shares.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/nanexa/Equity-research/2023/11/nanexa---valuation-update-after-the-rights-issue/